Cash flow improved substantially over the year for the Weyburn Golf Club, allowing them to invest over $58,000 in short-term deposits.

That was the news from Chris Michel, presenting the financial report to members gathered at the club's annual meeting, which was held at the Weyburn Credit Union on Thursday night.

Michel noted these weren't the audited financial statements for the club, but the figures were unlikely to vary much.

On paper, the Weyburn Golf Club suffered a $7,737 loss in net income. Their reported total expenses were $598,870, while their total revenue was $591,133.

However, this was due only to a budget depreciation of $58,184, said Michel, which the club hadn't accounted for. Depreciation has no effect on actual cash flow, he added, and is more of a bookkeeping expense.

In terms of revenue, most items were close to what had been budgeted for. The major variances were in club fees, which brought in $30,203 more than expected. Club pro Rod Carroll stated, compared to other years, 2003 "was the busiest year that I've experienced."

On the flip side, revenue from membership was down $19,247 than expected, bringing in only $140,578.

On the expense side, wages and commissions were $7,987 higher than expected at the pro shop, and wages and benefits were $10,826 more than expected for grounds.

This wasn't because more people were hired, but because more hours were worked as a result of more golfers.

Another major adjustment to this year's figures was property and business tax, which was budgeted for $34,722. This is just the 2003 adjustment from the RM of Weyburn, Michel noted.

Calling it an "area of grave concern," outgoing president John Corrigan said they would be meeting with the RM sometime in the next few weeks to discuss their tax situation.

Corrigan said property taxes seem to be increasing substantially every year, and "it's come to a point where we as a golf club cannot afford it."

In the Sept. 10, 2003 edition of the Weyburn Review, RM of Weyburn reeve Dan Sidloski was quoted as saying the municipality would forgive $16,000 in property taxes provided the club pays its outstanding 2002 and 2003 tax bills.

Included in the financial statements were sales reports on the pro shop and club house. From the pro shop, equipment sales from November 2002 to Oct. 31, 2003, came to $139,952, while the cost of goods sold was $105,016.

From the kitchen sales, total sales of food, confections and liquor came to $197,889, while the cost of goods sold was $152,680.

Brian Bakken, executive in charge of the clubhouse, said he was not happy with the clubhouse profits, which were down in some areas. Bakken said the club needs to be more effective in delivering service out there.

Doris Aasen, representing the ladies' club, reported they were planning to buy benches for their tee boxes with proceeds from the Pharmasave Ladies Open. They were looking at organizing a member/guest continental breakfast for Wednesday league next year, along with other events.

Club captain Jeff Pfeifer reported the Monday skins league got off to a bad start with the rainy weather, but eventually averaged 32 golfers on 16 nights. A total $3,148 was paid out to 66 different winners.

On a positive note, Carroll noted the junior golfers league had its most successful year to date, with more events and a club championship for Carter Hilkewich.

"Basically, next year it looks great for the kids," he said.

A new executive was chosen at the end of the meeting, including new president Blair Pateman, John Corrigan, Andrea Heath, Gloria Scaddan, Jeff Pfeifer and Lloyd Kerowatski. Rob Hippe stepped down, and Dave Rommann was elected to a new position that is not yet determined.